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So, to raise the obvious quetion. Who IS buying at auction at inflated prices? The individual coins keep being sold as do the bulk lots. Is this new dealers investing in their stock? For myself, not a dealer as such, I can only say that I buy individual coins I want at auction, or I buy a bulk lot of high grade where I can upgrade my own coins and then sell all the spares on, usually on ebay. This generally allows me to upgrade at virtually no cost, since the receipts from the spares more or less cover the cost of the lots. Its not an exact science but broadly works.